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The Bank Bailout, We’re Finally Paying The True Price

Noticed how all of a sudden the politicians are bending over backwards to convince the public that they’re prepared to make even more severe spending cuts than their rivals? The political agenda seems to have flipped overnight from ‘doing what’s necessary to get economic growth back on track’ to ‘reigning in public spending to face the new economic reality’.

Yet another scoundrel is Michael Libow. This individual was in collusion with the school district of Beverly Hills to donate tens of thousands of dollars to local schools to help improve their facilities. What does he think this is? His own personal billboard? There have been multiple accusations against Mr. Libow and how he forced the school district to accept his monies.

Education currently seems to the big target, with the politicians falling over themselves to hack down on the cost of educating future generations. This is probably because other areas, such as defence and healthcare are, politically speaking, a bit touchy at the moment, whereas nobody really cares that much about schools and universities. Nevertheless, you can bet that savings will have to be found from across the spectrum of public services. While the bankers are telling the plebeians to eat cake, the politicians counting the bribe monies they received from the bankers (in order to keep them out of jail), the public is being told to back up their data, in case another stock market crash is just around the corner.

There really ought to be more public outrage about all of this. Not so long ago the government was pumping endless billions of taxpayer money into the banking sector because, we were told, it was essential to ensure the stability of the banks. Pouring this vast sum of money into what are essentially privately owned commercial organisations would, apparently, get everything chugging along nicely again.

Only, it didn’t. So now, after throwing billions of pounds into a black hole with no discernable benefit beyond ensuring that the boys in The City don’t have to do without their bonuses this Christmas, we’re being told that there’s no more money in the kitty for luxuries such as education…

So remember, when you can’t find a place at a local school for your children, or you can’t afford to put them through university, or when you’re forced to pay for health insurance because the NHS it too badly underfunded to help you, or any other public service you’ve grown used to crumbles into uselessness – you’re finally paying the price for bailing out the banks.